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IKEA appoints Peter Betzel as India CEO

Press Trust of India  |  New Delhi 

Swedish home furnishings today said it has appointed as the new for its business.

Betzel takes over from Juvencio Maeztu, who moves into a global role as CFO and Deputy of Group INGKA Holding BV, the company said in a statement.

Prior to the current appointment, Betzel was heading the group's largest market and will now take the lead for IKEA's expansion into beginning with the upcoming launch of the company's first store in in 2018.

"Over the last six years we have set up a strong foundation for IKEA's presence in We are now ready and excited to open our doors to enable Indians create a better everyday life at home for themselves," outgoing Maeztu said.

Betzel, who is with IKEA since 25 years, has extensive store management experience besides an in-depth experience in driving business growth in different markets and ambitious plans to lead the India story to success, the company said.

"I will be working with the local teams to bring in unique global shopping experience offering good quality and affordable home furnishing products to a diverse set of consumers across the country," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 16:35 IST